INTERNATIONAL CONFERENCE

The 7th International Conference on “Managing Organizations of tomorrow by capitalizing Generation Next” was organized by Bharti Vidyapeeth University of Management Research on 16th and 17th January 2015. The event was sponsored by the Indian Council for Social Science Research and Association of Indian Management Schools and co-Sponsors by Indian Oil Corporation and Oriel India Group of Companies. Ravi Dutt Assistant Professor from Applied Science and Humanities department of Dronacharya Collage of Engineering, Gurgaon presented a paper titled “Role of Microfinance Fostering Financial Inclusion in Poverty Alleviation: An Overview”.

The objective of the conference was to manage the organizations of tomorrow by capitalizing on the inter-generational differences. The aim was to help bridge the gap between education and Corporate. The theme of the conference emphasized on aspects like marketing, Financial Management, Human Resource, IT issues Economic and Global issues, Strategies and Entrepreneurs and Management education. The next generation is more diverse and technology oriented. Thus, the conference touched upon every aspect of Generation Next having an impact on the business scenario.

The event was graced by eminent personalities like Hon’ble Sh. Narender Singh Tomar, Minister for Coal and Mines, Govt. of India, Dr. (Mrs.) Pankaj Mittal, Jt Secretary UGC, Mr. Ajay Sahai, Director General and CEO, FIEO, Prof. Olivier Arifon, from Belgium and Prof. Inderpreet Singh, Director Oriel India Ltd.

Generation Next” includes the young people born during the “baby boomlet born between 1980 to 1994”. The new generation is dynamic therefore it is to have a change in the existing economic, social and political environment. The discussion at the conference stressed on topics like

1. Social media marketing

2. Permission marketing

3. Digital marketing

4. Marketing technologies for Generation Next

5. Innovative Financial Products

6. Investment Opportunities for Generation Next

7. Challenges of Money Flow in Inter-banking System

8. Employment Engagement Strategies

9. Work & Ethics of Generation Next

10. Handling Change Management

11. Team Work & Individualism

12. M-Commerce & Ecommerce

13. Virtual Organizations

14. Information Technology

15. Business Process Engineering.

Papers were presented and simultaneously discussions were conducted the above topics. The speakers pointed out that generation next is the age of young people. They comprise the majority of students of most colleges and of new hires in the workforce. They are independent thinkers as well as social thinkers. The DNA of organizations are also changing. Management practices and the form of organizations have significantly tailored during the last quarter. With the new business landscape the means of achieving competitive advantage have also developed. Here in this change the new generation employees plays a big role. This change apart from attaining cost effectiveness and economies to scale will make effective use of technology, virtual connection, social media. Innovation also plays a key role.

Mr. Ravi Dutt in his research paper revealed that whether the lives of the poor can be improved if they have financial services like access to low interest rate credit, savings accounts and other services that microfinance offers. Microfinance directly and indirectly intends to help the state in improving the access of finance which can promote the economic development. Microfinance institutions that provide microcredit services aim to fulfil the banking services. Millions of rural poor do not have access to the basic savings and credit services. Traditional ways of saving leave the poor in a weak position when they need funds.

Microfinance can be a critical element of poverty reduction strategy. Improved access and efficient provision of savings, credit, and insurance shall help the poor to manage their risks better, build their assets gradually, and develop their microenterprises. Government, NGOs and other financial institutions have various welfare schemes and activities to reduce poverty. Microfinance, by providing small loans and savings facilities to those who are excluded from commercial financial services has been developed as a key strategy for reducing poverty throughout the country.

The conference was very knowledgeable as it provided a common forum for academia and practitioners to exchange their views on the various areas related to Generation Next.